Nepal Economic Digest (August 14, 2020)


August 14, 2020


Nepal Economic Digest (August 14, 2020)

KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Company Registrar Office to go online from Aug 17

The Office of the Company Registrar is all set to provide services online starting August 17. All the companies have been urged to go online as per the Company Act, 2063 BS.

With this decision, the new companies which are in the process of registration have to apply online. From now onwards, all the details will be recorded electronically from now onwards while works will be executed accordingly, said Tulsiram Gaire, the spokesperson for the company registrar office.

Similarly, all the companies including the new and old have to submit their annual reports and audit reports online from August 17.

Once this provision is in place, people will have access to the details of as many as 237,000 companies registered already.

Reliance Life Insurance to issue IPO from Aug 20

Reliance Life Insurance is issuing initial public offerings (IPO) from August 20. Organizing a video conferencing on Thursday, the company informed that it is issuing 6.3 million units of shares worth Rs 630 million.

Of them, 5,670,000 units of shares have been allocated for the general public, 315,000 units of shares for the collective investment fund (CIF) and 315,000 units of shares have been set aside for the staffers of the company.

With Rs 2.1 billion as the paid-up capital, Reliance is selling its 30 percent of shares. The IPO which will open on August 20 will close on August 24. A customer can apply for minimum 10 units of shares to maximum 63,000 units of shares.

Almost a quarter of Nepal’s workers lost jobs on account of Covid-19: Central bank

Amid Covid-19, Nepali businesses have laid off 22.5% of their workers as measures to contain the novel coronavirus hit tourism and other activities, a senior central bank official said on Thursday, citing a study of the economic impact of the outbreak.

Nearly 700 enterprises in 52 of the Himalayan nation’s 77 districts, conducted by the central bank in June, showed most jobs lost in hotels and restaurants followed by agriculture, forestry, fisheries, and the wholesale and retail sectors according to the study.

Nepse down 13.55 points in first one hour

Nepal Stock Exchange (Nepse) went down by 13.55 points in the first one hour on Thursday. The benchmark index which began with 1,430.23 points at 11 am reached 1,411.77 points at 12 pm.

The index plummeted by 0.95 percent during the period. Similarly, out of 12 groups, only one group has witnessed increment in its share value.

The index witnessed a transaction of 379,000 units of shares worth Rs 157.1 million of 161 companies.

Hamro Keyboard adds voice typing support and dynamic keyboard sizes

Hamro Nepali Keyboard, a product of Hamro Patro, has added new features as  voice typing and size adjustment. Size adjustment allows users to change keyboard size that would fit their device screen size.

This feature update aims to improve upon user comfort and bolster HamroKeyboard’s position as the Nepali keyboard of choice.

Boasting of more than 5 million downloads, Hamro Keyboard contains frequently updated themes, stickers and emojis.

The introduction of voice typing and size adjustment will definitely attract existing and new users. “We are always listening to our user base here at Hamro Patro.

The needs of our users is what always takes priority.”, Shankar Uprety, CEO at Hamro Patro said. With the addition of voice typing, users can input Nepali text just by speaking to their phone.

This feature will allow users to type in Nepali even if they are not familiar with existing keyboard layouts.

(Compiled and prepared by Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries.

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